Buying above that green line seems the low risk approach then. Keeps you out of trouble in the interim and has you on the right side of a move.
Given price is mean reverting inside that consolidation band, creating orders either side, the explosive move will be on one side or the other.
No swing trade entry keeps me out. Given the out standing short position and untested low around 2.70, the huge left side over hang, and general market indecision I'd say the stock has a lot to prove first.
Question to ask is why should it go higher (or lower) imo. I'd be surprised to see it leave this base without a capitulation/liquidity event. I wouldn't argue with a breakout to the upside however.
Charts, page-4674
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Last
$2.24 |
Change
-0.190(7.82%) |
Mkt cap ! $422.4M | |||
| Open | High | Low | Value | Volume |
| $2.40 | $2.40 | $2.23 | $3.263M | 1.428M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 24516 | $2.24 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.27 | 2000 | 1 |
View Market Depth
| Last trade - 16.10pm 17/05/2024 (20 minute delay) ? |
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Last
$2.25 |
Change
-0.190 ( 8.15 %) |
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| Open | High | Low | Volume | ||
| $2.31 | $2.33 | $2.24 | 234029 | ||
| Last updated 15.59pm 17/05/2024 ? | |||||
| WBT (ASX) Chart |